Financial Services: Primerica Financial Services

Palm® and Primerica team up to streamline sales and decrease order processing time for 15,000+ agents

Challenge

Primerica Financial Services, a subsidiary of Citigroup, Inc. is the larg- est financial services marketing organization in North America, with more than 100,000 licensed independent agents. They provide more than 6 million clients with financial products and services, such as term life insurance, mutual funds, variable annuities, loans and long term care insurance. With such a large, geographically dispersed and mobile field sales force, Primerica was in need of a solution to auto- mate the writing and processing of between 30,000 and 35,000 life insurance applications each month.

With up to 60 percent of applications pouring in the last week of each Benefits month, processing the high volume of paperwork had become time- consuming and challenging, both for the agents in the field and the n Saves 5-10 days in processing clerical staff in the corporate office. In addition to the large volume, a time for applications significant percentage of submitted applications contained errors and n Significantly reduced errors incomplete information. Correcting the deficiencies required outbound and increased acceptance rate calls between corporate, the field agents, and the customer, a pro- cess that sometimes took days, or even weeks, before an application n Cut the need manual could be corrected and fully processed. Primerica needed to find a intervention in forms processing by 75% solution to ensure they delivered better, more efficient and timely services to their customers.

Once you start using Solution TurboApps” software on With over 15,000 agents already using hand-held devices, 90% of the Treo you’ll which were Palm® handheld users, the choice to develop an automat- never want to go back to ed system around the Palm OS® was simple. Tom Swift, Executive paper. This software is Vice President of Field Technology at Primerica, had his team develop an application called “TurboApps”, which captures and submits life especially great if you’re insurance applications on Palm handhelds and . Agents technology challenged. It sit down with their customer to gather and input information directly doesn’t allow errors, so your into the TurboApps screens. The TurboApps solution was designed to submitted app is perfect eliminate errors by running a check of the application before it can be submitted electronically. The program automatically identifies errors every time.” and omissions, prompting the Agent to make the necessary updates before the customer can electronically sign the application on the Shane & Gina Rudman, Primerica Sales Agents device. Financial Services: Primerica Financial Services

Solution (cont.)

“TurboApps will not only eliminate redundant data entry for the Agent Solution Summary and the company, it also prevents an incomplete or incorrect applica- tion from being submitted, which saves a lot of time and labor”, says n Agents were able to improvecustomer confidence by providingquicker turnaround Swift. With the large number of applications processed each month, andimproved response time, fewerinput the time and cost savings are significant. Now sales agents can errors, a higher levelof security and more complete the application process in just minutes; whereas, before detailedaccess to other financialproducts we deployed the TurboApps solution, this process took several days. and services. The applications are no longer incomplete, so they require no manual n Automating the paper-basedapplications intervention and are processed much faster. process enabled thecompany to significantly reducetransactional costs In the first full month of operation since deploying the solution, over associatedwith re-keying data, filing 8,000 agents have activated the new software on their Palm® devic- paperapplications, mail sorting anddelivery. es, and 23% of the company’s total U.S. life insurance production has n The proven ease of use withPalm devices been submitted electronically via TurboApps. Primerica agents found has enabled theagents to adopt and begin that the TurboApps solution enabled them to process more applica- usingthe applications immediately.n tions and transactions, in less time, with more accurate information Thousands of Primerica agentsalready and make better, more informed decisions for their customers. Com- use a Palm handheld,so there was rapid bined with the added benefit of allowing them to be more efficient familiaritywith the device and functionality. in their jobs, the agents have also discovered that quicker processing n Greater customer satisfactionhas led of applications has resulted in quicker payment of their commissions. to increased sales inother areas of the This is a winning solution that continues to benefit the customer, the business. sales agents, and the company. n Customers that have experienceda quick, reliable, accurateand secure interaction withPrimerica are more apt toconsult their agent for furtherfinancial needs.

Technical Summary

n Palm® Treo™ smartphones

n TurboApps™, proprietary software

More Information Primerica Financial Services www.primerica.com

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